A Pennsylvania divorce court will identify and divide marital property, which includes most of the assets which you and your partner acquired during your marriage. It can also include the value by which certain separate properties, such as a business started before the marriage, have appreciated during the marriage.
In any case, the court is meant to divide marital property fairly and equitably, but it cannot do so if it does not know the value of that property (or that property even exists to begin with). As such, fraudulent and incomplete financial disclosures provided during the divorce process can negatively impact your financial future in various ways.
For example, suppose your marital property consists of $500,000 of known property, but your partner has concealed an additional $50,000 of assets. A court could divide the known property in a way that it believes to be equitable, giving you both $250,000 in assets, but your partner will still come out ahead, considering what they’ve hidden from you and the court.
Child support and spousal support orders are also entered after considering your and your partner’s finances, and if your partner’s income and wealth are underreported, you could lose out on spousal support or marital property to which you would otherwise be entitled.